CEO of failed WaMu could get millions

[one...two...tree 2,762]

WASHINGTON (AP) -- The CEO of failed Washington Mutual Inc., on the job only a few weeks before the nation's largest thrift was seized by the government and sold to JPMorgan Chase & Co., is entitled to more than $13 million in severance and bonus pay.

Alan H. Fishman signed an agreement that provides around $6 million in cash severance and retention of his signing bonus of $7.5 million if he were to leave his job, according to a company filing with the Securities and Exchange Commission.

http://biz.yahoo.com/ap/080926/wamu_ceo_pa...nking-budgeting

[Mr. Big Dog 10,747]

What else is new? At a certain level, failure is rewarded.

[britty 1]

I have $44 with WaMu. I may withdraw it just to wipe the smile off Fishman's face......

[IAMX 3,055]

Hmm. I have a couple thousand in the bank, plus my incoming direct deposit work check and am trying to figure out if I should be taking that money out.

I know it's insured and all but I don't think this place I may be moving into will take an IOU until I get the money.

Edited September 27, 2008 by SRVT

[britty 1]

Hmm. I have a couple thousand in the bank, plus my incoming direct deposit work check and am trying to figure out if I should be taking that money out.

I know it's insured and all but I don't think this place I may be moving into will take an IOU until I get the money.

I would say get your money out anyway just to be safe. I withdrew my cash a few days ago but for some stupid reason, $44 remains at the mercy of WaMu.

[IAMX 3,055]

Hmm. I have a couple thousand in the bank, plus my incoming direct deposit work check and am trying to figure out if I should be taking that money out.

I know it's insured and all but I don't think this place I may be moving into will take an IOU until I get the money.

I would say get your money out anyway just to be safe. I withdrew my cash a few days ago but for some stupid reason, $44 remains at the mercy of WaMu.

Will do. Gotta go into the bank tomorrow morning.

[luckytxn 2,264]

When you go to the bank. Look for a JP Morgan sign.